There aren’t many dedicated space economists out there, but today we’re lucky enough to be joined by one. This week’s Pathfinder guest is Pierre Lionnet, Research and Managing Director at Eurospace, who shares his critical and thought-provoking insights into the space economy. Pierre, with a background in engineering and finance, has spent 30 years analyzing and providing data-driven perspectives for the space industry. He’s also not afraid to ruffle feathers or challenge conventional thinking with his views.

Eurospace, a non-profit trade association, focuses on delivering analytics and independent assessments to its members. Our conversation delves into Pierre's critical perspective on the space economy and the industry's current dynamics. We also explore:

• Forecasting the economy over the last decade and potential overestimations
• Impact of increased mass in orbit 
• General misconceptions about the industry 
• Sustainability of the current startup environment
• Future of private investment and commercialization in space

And much more...

• Chapters •

00:00 - Intro

00:38 - The Space Economist

02:50 - Space industry over 30 years

04:56 - What sparked Pierre's passion for space economics

07:39 - Previous economists before Pierre

10:43 - Pierre's team at Eurospace

11:15 - Common misconceptions about the industry

13:36 - Concerning and interesting trends in the industry

18:53 - How big is the industry today?

21:43 - Gaps in estimates

25:46 - Negative effects of inaccurate estimates

28:26 - Current view on the startup market and future predictions

34:28 - US vs European startup ecosystem

35:32 - How Pierre would invest his capital

38:35 - Challenges of commercialization and launch costs

44:45 - Is there a viable business model around Starlink?

48:14 - Business case for the Moon

50:31 - What causes a break in interest and passion in investors?

55:27 - Overlooked or undervalued areas of the market

58:08 - What startup would Pierre work at if he had to choose one?

01:00:57 - Space leaders that Pierre follows

01:04:02 - Advice for making sure the space economy continues to grow in the right way

01:06:41 - What does Pierre do for fun?

• Show notes •

Eurospace website — https://eurospace.org/

Pierre’s socials — https://twitter.com/LionnetPierre

Mo's socials — https://twitter.com/itsmoislam

Payload’s socials — https://twitter.com/payloadspace / https://www.linkedin.com/company/payloadspace

Pathfinder archive — Watch: https://www.youtube.com/@payloadspace

Pathfinder archive — Listen: https://pod.payloadspace.com/episodes

• About us •

Pathfinder is brought to you by Payload, a modern space media brand built from the ground up for a new age of space exploration and commercialization. We deliver need-to-know news and insights daily to 19,000+ commercial, civil, and military space leaders. Payload is read by decision-makers at every leading new space company, along with c-suite leaders at all of the aerospace & defense primes. We’re also read on Capitol Hill, in the Pentagon, and at space agencies around the world.

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